First National Trust Co Decreases Stock Position in Schlumberger Limited (NYSE:SLB)

First National Trust Co lessened its position in shares of Schlumberger Limited (NYSE:SLB) by 19.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,408 shares of the oil and gas company’s stock after selling 9,231 shares during the period. First National Trust Co’s holdings in Schlumberger were worth $1,999,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BluePath Capital Management LLC bought a new position in Schlumberger during the third quarter worth about $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in Schlumberger in the 4th quarter valued at approximately $26,000. Janiczek Wealth Management LLC raised its holdings in Schlumberger by 1,180.4% during the 4th quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 602 shares during the period. Pinnacle Bancorp Inc. lifted its position in shares of Schlumberger by 64.3% during the fourth quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 292 shares in the last quarter. Finally, Legacy Bridge LLC boosted its holdings in shares of Schlumberger by 39.4% in the fourth quarter. Legacy Bridge LLC now owns 853 shares of the oil and gas company’s stock worth $44,000 after acquiring an additional 241 shares during the period. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the sale, the executive vice president now owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the transaction, the executive vice president now owns 261,507 shares in the company, valued at $12,688,319.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction of $304,000.00. Following the completion of the sale, the chief financial officer now directly owns 242,932 shares of the company’s stock, valued at approximately $11,816,212.48. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Schlumberger Price Performance

Shares of SLB stock traded up $0.08 during trading hours on Friday, hitting $47.66. 11,007,407 shares of the company’s stock were exchanged, compared to its average volume of 9,961,223. The company has a market capitalization of $68.12 billion, a PE ratio of 15.83, a PEG ratio of 0.92 and a beta of 1.64. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 12-month low of $42.73 and a 12-month high of $62.12. The business’s 50 day simple moving average is $51.63 and its 200-day simple moving average is $51.79.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting analysts’ consensus estimates of $0.75. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.70 billion. During the same quarter last year, the company earned $0.63 EPS. The firm’s revenue was up 12.6% compared to the same quarter last year. On average, equities research analysts anticipate that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Wednesday, June 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s payout ratio is 36.54%.

Analyst Ratings Changes

A number of brokerages recently issued reports on SLB. Morgan Stanley reissued an “overweight” rating and set a $65.00 price objective on shares of Schlumberger in a report on Monday, April 22nd. Barclays lowered their price target on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. BMO Capital Markets reduced their price objective on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a research note on Monday, April 22nd. The Goldman Sachs Group reiterated a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Finally, Susquehanna restated a “positive” rating and set a $77.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.72.

Schlumberger Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.